Pretium reaches steady-state production on schedule

Pretium Resources’ (TSX: PVG) flagship asset, the Brucejack gold mine in northwestern British Columbia, reached steady-state production on schedule in the second quarter of 2018, one year after the mine’s first gold pour. In the first half of 2018, Brucejack produced 187,000 gold oz. at all-in sustaining costs of US$783 per oz., well in line with the company’s guidance. Head grade averaged 11.9%, while the gold recovery rate was 97.7%. First-half revenue totaled US$235 million with net earnings of US$52 million. Pretium’s cash position grew from US$70 million to US$143 million in the second quarter as a result of increased production at lower costs. Continue reading at The Northern Miner.